Living near a supermarket can add nearly $30,000 to the value of your house

If
you live near a Waitrose, your home could be worth £38,666 more
than equivalent houses in a similar area without a branch of the
upmarket food store.Flickr/
The U.S. Army

Living close to a supermarket can boost the value of your home by
£22,000 on average, according to new research from Lloyds Bank.

But if you live near a Waitrose, your home could be worth £38,666
more than equivalent houses in a similar area without a branch of
the upmarket food store.

Lloyds Bank compared the value of houses in a postal district
with a supermarket to houses in nearby areas without one,
according to The Telegraph.

"Our findings back-up the so-called 'Waitrose effect,'" Mike
Songer, mortgage director at Lloyds Bank said in a press release.
"There is definitely a correlation between the price of your home
and whether it's close to a major supermarket or not."

"Our figures show that the amount added to the value of your home
can be even greater if located next to a brand which is perceived
as upmarket," he added.

The study also found that properties near a Sainsbury's or Marks
& Spencer have their value boosted by £27,939 and £27,182
respectively.

Houses that are close to less expensive supermarkets experienced
a slight increase in value, but the effect is dramatically
reduced.

For example, if your home is situated near a Lidl store it can be
up to £3,926 more valuable, while being on the doorstep of an
Aldi adds just £1,333 to your property value.